Abstract: The invention is a metered dispensing cap system for containers of medicinal salve, comprising a stiff base element of finite thickness and defined by an outer perimeter threadably attachable to the externally threads located about the neck of a collapsible tube of medicinal salve, and having an opening formed in the base element and an opening formed in the neck of the collapsible tube, the openings arranged in mutual axial alignment, for outflow of salve from the tube, a one-way valve located in the base element at the aligned openings permitting flow of salve from the collapsible tube through the openings and preventing backflow thereof into the tube; and, a meter element comprising a manually collapsible chamber formed of a thin, flexible chamber wall directly attached to the base element, about the perimeter and covering over the one-way valve, to hydraulically seal the chamber from outside thereof, the chamber adapted to receive therein salve squeezed from the tube, through the one-way valve, and contai